South African billionaire businessperson Jannie Mouton, founder of investment holding firm PSG Group, has seen the market value of his stake in Capitec Bank decline by millions of dollars amid a recent drop in the bank’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Mouton’s stake in Capitec Bank has decreased by R1.08 billion ($57.36 million) in the past five days, as investors on the local bourse continue to reduce their holdings in the financial services provider.
Capitec Bank’s shares fall by 8.07 percent
Capitec Bank is a leading financial institution in South Africa, boasting one of the largest customer bases in the country. With 856 branches and 7,436 ATMs, it has established itself as a trusted retail banking brand over the past two decades.
Over the past five days, Capitec Bank shares on the JSE have declined by 8.07 percent, falling from R2,220.29 ($117.7514) on April 8 to R2,041.07 ($108.2466), thus leading to losses amounting to millions of dollars for its shareholders, including Jannie Mouton.
Mouton’s Capitec stake dips below $700 million
Jannie Mouton, co-founder of Capitec Bank with Michiel Le Roux and Riaan Stassen, holds a 5.11-percent stake in the bank through the J.F. Mouton Familietrust. This stake equates to 6,034,518 shares, currently valued at approximately $653.2 million.
Mouton’s holding has declined in value by R1.08 billion ($57.36 million) over the past five days due to a single-digit percentage drop in Capitec’s share price. The value of his stake stood at R13.40 billion ($710.61 million) on April 8, 2024, and has since fallen to R12.32 billion ($653.25 million).
Despite the recent setback, Mouton still holds his position as one of the most affluent investors on the JSE and remains one of the wealthiest individuals in South Africa.
